Coherent Bags $15M in CHIPS Act Funding Through the CLAWS Hub to Accelerate Commercialization of Wide- and Ultrawide-Bandgap Semiconductors
Portfolio Pulse from Benzinga Newsdesk
Coherent Corp. (NYSE:COHR), a leader in wide- and ultrawide-bandgap semiconductors, has secured $15 million in funding from the CHIPS and Science Act of 2022 to accelerate the commercialization of its semiconductor technologies. This funding is part of the $2 billion allocated by the Department of Defense to strengthen the U.S. semiconductor supply chain.
April 10, 2024 | 10:03 am
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Coherent Corp. receives $15 million in CHIPS Act funding to advance its semiconductor technologies.
The $15 million funding from the CHIPS Act is a significant financial boost for Coherent Corp., directly supporting its efforts in commercializing wide- and ultrawide-bandgap semiconductors. This funding not only validates the company's technological advancements but also positions it favorably within the semiconductor industry, potentially leading to increased investor confidence and a positive impact on its stock price in the short term.
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